When lawyers form a new firm, one of their first, most important projects is usually designing their website. This makes sense because the website is often the first thing that a prospective client or referral source will see. Its importance cannot be overstated.
The process of designing a website (or printed marketing material) is considerably different for a new enterprise than it is for an established one. For an established firm, the process involves trying to portray to the outside world the essence of what the firm is and emphasize what distinguishes it from its competition.
For a new firm, however, the process is very different because you must first conceptualize what you want to be before you decide how you want to present yourself to the outside world. In this way, the website of a new firm is more aspirational than it is descriptive. For example, when a new firm proclaims that it handles practice areas A, B, and C, it often means that it intends to handle those practice areas.
This dynamic plays itself out in virtually everything a new business does. When it chooses a logo, or color scheme, or even its name, it engages in a process of self-conceptualization, imagining what it wants to be. I think that’s one reason why new businesses spend so much time, and so enjoy, focusing on relatively simple things like deciding on a logo. It’s fun to imagine your potential….
Blogging is not something I expected to make part of my weekly routine as a litigator. Yet here I am, writing a post every week that relates in some way to my own experience of having moved “from Biglaw to boutique.” This post marks my 40th post on Above the Law, and for several reasons, I remain grateful and look forward to the opportunity to write a post every week, dead weeks included.
If your goal is to build credibility regarding your expertise in a certain area, then blogging — or tweeting, for that matter — about that topic is a helpful start. Blogging about a certain topic is in some ways the online equivalent of presenting a seminar or CLE course.
Generally, the benefit of presenting a seminar is greater than the sum of its parts. For example, if you give a seminar, each attendee is a prospective client. But more than that, you also help build a reputation as someone knowledgeable about your topic.
Legal blogging works the same way. If you consistently blog about a certain topic, then you have a good platform by which you can establish credibility as an expert in the field. If you tweet and re-tweet about your topic, then someone searching Twitter is more likely to come across your name and assume you have expertise in the area. I know from experience that valuable contacts and potential clients actually do consult Twitter for lawyers to hire….
I’ve been known to quip, “I thought I was wrong, once, but I was mistaken.” But I realize that my column here on Above the Law has often been “wrong” in at least one important way: I’ve compared apples to oranges.
For example, I authored a “top ten” list of differences between working in a big firm and working in a boutique. But many of the items focused on differences between employee and owner. I compared working where “you get paid either a salary or an hourly rate” with “running your own shop.” I compared “making all the decisions in my cases” with “waiting for a partner to act on my recommendations.” I compared doing the grunt work with making the important decisions.
That strikes me as comparing apples to oranges because all those comparisons actually contrasted being an employee with being an owner. That fundamental distinction accounts for many of the supposed differences between working in Biglaw and working in a small firm or boutique.
But what about associates who are considering becoming associates at a small firm or boutique? That’s the true apples to apples comparison. If you’re not starting your own business, but will instead remain an associate, what are the real differences when moving “From Biglaw to Boutique”?
Many attorneys who leave Biglaw for smaller or solo practices find themselves considering contingent fee cases, either by necessity or design. “By necessity,” because a practice may not have many paying clients when it first forms. “By design,” because an attorney working for a contingent fee has the prospect of hitting a huge payday and making many times what an attorney who bills by the hour can make.
The challenge of business development takes on a whole new meaning when applied to contingent fee lawyers. To some extent, a contingent fee attorney has the opposite problem of an attorney billing by the hour. There is no shortage of clients who want a lawyer they need pay only if they win. Thus, the contingent fee attorney always has too many potential clients whereas the hourly attorney always has too few.
Because attorneys can find themselves inundated with clients offering a contingent fee, evaluating which cases to take, and which to turn down, can be challenging. Essentially, taking a case on contingency is an investment of your time, energy, and financial resources. You need to carefully assess whether the investment is a good one….
Associates in both Biglaw and small should give some thought as to who is their most important client. Some might think that their most important client is their biggest or most prestigious one, or the one whose matter has the most at stake. This week at Morrison & Foerster and Quinn Emanuel, yearning associates might name Apple and Samsung, respectively.
Other associates might take a longer view, and answer that their most important client is the one with the greatest potential to offer them future business.
Still others might select the client for whom the associate has the most responsibility. For example, if you are one of three or four associates on several matters, but the primary or sole associate on another, you may view that latter client as your most important.
All these associates would be making a mistake by not understanding who is truly their most important client….
I’ve heard that a hungry dog hunts best. I don’t know if that’s actually true because my pugs were always hungry, and yet they could not have caught a three-legged turtle. But the saying makes sense, and I do know that staying hungry — but not desperate — is an important concept for law firms.
One way a young firm should stay hungry is to always search for new business. There are good reasons that I constantly harp on the importance of business development. Even if you are fortunate enough to be busy, you never know when your current workload may dry up. This is particularly true in litigation because any case can always settle or otherwise resolve unexpectedly. No matter how busy you are, you should constantly seek out new work and new clients.
But seeking out new work comes at a potential cost to your current cases and clients. You can’t be so desperate to grow that you spend so much time on business development that you ignore your current clients or let your current caseload suffer. Some lawyers take a churn and burn approach, trying to maximize their short-term return from every engagement, with no concern for the longer-term client relationship. To form a practice that’s built to last, you need to work hard to maintain those relationships, and that means you can’t neglect your current clients while constantly fishing for newer ones….
For attorneys starting their own firms, one of the more difficult things to learn is how much time to spend on a prospective client. Attorneys take various approaches. Some attorneys say, reasonably enough, I don’t work for free, and will do little more than quote their rates. Attorneys who employ mass marketing will offer a “free consultation,” but that generally amounts to little more than a way to encourage unsophisticated clients to call them as opposed to someone else.
If your business model depends on high volume of a particular type of case, it probably doesn’t make sense to devote too much effort to soliciting any one particular client. But if you are pursuing fewer, higher-stakes or more complex matters, then you very well could struggle with how to strike the proper balance….
Living in the San Francisco Bay Area, we are well accustomed to the concept of diversity. San Franciscans embrace it. They live among and celebrate people of every race, ethnicity and nationality. They embrace every sexual orientation. And they welcome political persuasions spanning the gamut from socialist to liberal. Ah, life’s infinite diversity.
I’ve mentioned before that when I snorkeled in the Cayman Islands, I was amazed at the vast number of different species of fish. When I go to a favorite deli or café, I’m reluctant to order “the usual,” however much I might enjoy it, because I’ve always believed that variety is good. The concepts of variety and diversity present themselves to us every day.
Diversity is also an important concept for law firms, especially smaller law firms and boutiques. And this is true of “diversity” in a variety of contexts, some of which are not so obvious….
I recently had a client ask me about asset protection strategies. Having read The Firm (affiliate link) before I ever went to law school, and mindful of the classic Tom Cruise movie of the same name, of course I did what any diligent attorney devoted to client-service would do: I headed off to the Cayman Islands to investigate.
Due to an unfortunate series of strange boating accidents which I am not at liberty to discuss, my trip ended up lasting a bit longer than I expected. My email and telephone conversations also became compromised, hence my extended ATL hiatus.
Alas, the good guys prevailed, I am back safe and sound, and I’m happy to write about some of my reflections from beautiful Cayman (pronounced, as I learned from the locals, “Cay-Man,” with two distinct, equally prominent syllables, almost rhyming with “Cave-Man;” not “Cay-min” rhyming with “layman”)….
Anyone who has been around children is familiar with the challenge of getting them to eat what you want them to eat. “My daughter won’t eat vegetables.” “My son only eats cheetos.” Like a lot of parents, I find myself frustrated by this dynamic. But I also have to laugh, because I know the solution is so simple. If someone is hungry enough, they will easily overcome their aversion to whatever particular food they think they don’t like.
For example, you might not like broccoli, and you swear you would never eat broccoli under any circumstances. But if you were on a desert island with nothing to eat except broccoli, it would not take very long for you to overcome, or at least overpower, your distaste. So, if you really want your kid to eat X, then just don’t allow them to fill up on not-X. Nature will take care of the rest. We’ve all got to eat, and a child won’t die from voluntary starvation any more than someone can kill themselves by holding their breath.
Like a lot of kids, mine have a very narrow range of food that they profess to like. Dinner, therefore, has a familiar refrain. The kids insist they don’t like X, and I tell them, “That’s fine. I understand you don’t like X. No one can tell you what you should like, and what you shouldn’t. You don’t need to like X if you don’t want to. Now shut up and eat it.”
Thus, “You Don’t Have to Like It” has become something of a mantra to me.
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?
First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.
On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.
What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at firstname.lastname@example.org in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
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